Money Hacks Ep 53: How fintech helps you with cheaper and faster money transfers overseas

9:43 mins

Synopsis: In this podcast series on alternate Mondays, The Business Times and The Straits Times break down actionable financial tips.

This episode is aimed at how best to transfer your money abroad, and in cheaper ways.

Entrepreneur Kiyan Foroughi comes on the show to talk about his own personal experience about money transfer woes with banks and why he uses new fintech services like TransferWise to save on costs and speed besides getting better transparency.

He has business investments and property mortgages overseas, and needs to transfer money to family members around the world.

Mr Nilan Peiris - another guest on the show - is the London-based vice-president for growth for TransferWise, which has 1,600 staff members and about 150 in Singapore, and is also regulated by the Monetary Authority of Singapore.

He answers the following:

1. What are cross-border money transfer services and why do they save their customers money? 

2. How you can save up to 10 times on the cost of sending a sum of money from Singapore to the UK, Europe or Australia.

3. How instant payment - thanks to fintech - means that customers can send money to pay for a leaky roof repair in London for example, within 20 seconds.

Produced by: Chris Lim, Ernest Luis & Lee Kim Siang 

Edited by: Adam Azlee

Dear readers,

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Feedback to: podcast@sph.com.sg

Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.

Watch a video of Podcasts on the rise in Singapore: https://youtu.be/aGJ4cbch6eQ

Money Hacks Ep 53: How fintech helps you with cheaper and faster money transfers overseas
9:43 mins
Synopsis: In this podcast series on alternate Mondays, The Business Times and The Straits Times break down actionable financial tips.
This episode is aimed at how best to transfer your money abroad, and in cheaper ways.
Entrepreneur Kiyan Foroughi comes on the show to talk about his own personal experience about money transfer woes with banks and why he uses new fintech services like TransferWise to save on costs and speed besides getting better transparency.
He has business investments and property mortgages overseas, and needs to transfer money to family members around the world.
Mr Nilan Peiris - another guest on the show - is the London-based vice-president for growth for <a href="https://transferwise.com/sg">TransferWise</a>, which has 1,600 staff members and about 150 in Singapore, and is also regulated by the Monetary Authority of Singapore.
He answers the following:
1. What are cross-border money transfer services and why do they save their customers money?&nbsp;
2. How you can save up to 10 times on the cost of sending a sum of money from Singapore to the UK, Europe or Australia.
3. How instant payment - thanks to fintech - means that customers can send money to pay for a leaky roof repair in London for example, within 20 seconds.
Produced by: Chris Lim, Ernest Luis &amp; Lee Kim Siang&nbsp;
Edited by: Adam Azlee
Dear readers, We are conducting consumer research to find out what types of content you like. Please click on the link below to participate in a short survey which will help us serve you better. Respondents stand a chance to win $100 shopping vouchers and get invited to participate in consumer interviews. Link:&nbsp;<a href="https://sph.au1.qualtrics.com/jfe/form/SV_4MwYEyWCtmRKUHH" data-saferedirecturl="https://www.google.com/url?q=https://sph.au1.qualtrics.com/jfe/form/SV_4MwYEyWCtmRKUHH&amp;source=gmail&amp;ust=1567848121483000&amp;usg=AFQjCNGd9W9hTzMJHpbNs2cNlXu1YMf7FA">https://sph.au1.qualtrics.com/jfe/form/SV_4MwYEyWCtmRKUHH</a>
Like, subscribe and rate our Money Hacks podcast on:
Spotify:&nbsp;<a href="http://str.sg/oeGN" data-saferedirecturl="https://www.google.com/url?q=http://str.sg/oeGN&amp;source=gmail&amp;ust=1546836113222000&amp;usg=AFQjCNEfCZyPl0FlZr5czyXgKRgVY9bxSQ">http://str.sg/oeGN</a>&nbsp;
Apple Podcasts:&nbsp;<a href="http://str.sg/oeXe" data-saferedirecturl="https://www.google.com/url?q=http://str.sg/oeXe&amp;source=gmail&amp;ust=1546836113222000&amp;usg=AFQjCNFX1n6hqrDbxHoyJP6PaS9GQsZmew">http://str.sg/oeXe</a>&nbsp;
Google podcasts:&nbsp;<a href="http://str.sg/oeGd" data-saferedirecturl="https://www.google.com/url?q=http://str.sg/oeGd&amp;source=gmail&amp;ust=1546836113222000&amp;usg=AFQjCNGh39t82lmbdXFZrIUhOEuFqAbwDw">http://str.sg/oeGd</a>&nbsp;
Website:&nbsp;<a href="http://str.sg/stpodcasts" data-saferedirecturl="https://www.google.com/url?q=http://str.sg/stpodcasts&amp;source=gmail&amp;ust=1559634828752000&amp;usg=AFQjCNEo3R6zmneL69Rdsg0snAoLxQhjdQ">http://str.sg/stpodcasts</a>
Feedback to:&nbsp;<a href="mailto:podcast@sph.com.sg">podcast@sph.com.sg</a>
Do note: Any financial or investment information in this podcast is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser.
Watch a video of Podcasts on the rise in Singapore:&nbsp;<a href="https://youtu.be/aGJ4cbch6eQ">https://youtu.be/aGJ4cbch6eQ</a>

Synopsis: Almost every weekday, our ALL-IN-ONE channel showcases discussions on Singapore youth perspectives and social issues, geopolitics through an Asian lens, health, climate change, personal finance and career.

Follow our shows on your favourite audio apps Apple Podcasts, Spotify or even ST's app, which has a dedicated podcast player section.

Produced by podcast editor Ernest Luis & The Straits Times, SPH Media.

Synopsis: Almost every weekday, our ALL-IN-ONE channel showcases discussions on Singapore youth perspectives and social issues, geopolitics through an Asian lens, health, climate change, personal finance and career.
Follow our shows on your favourite audio apps Apple Podcasts, Spotify or even ST's app, which has a dedicated podcast player section.
Produced by podcast editor Ernest Luis &amp; The Straits Times, SPH Media.

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